Market Report - 20001 - Washington, DC NW (Logan--Shaw) 2018 08

This is the neigborhood in Washington, DC. Everyone wants live here, or to come here to eat and enjoy the city.

Logan Circle is the quintessential NW DC neighborhood. It simply looks and feels right, without the attitude one finds with the usually older & more established NW neighborhoods.

Penn Quarter, closer to downtown/ Penn. Ave., has the nightlife, clubs and Capital One Arena.

Shaw is blooming overnight, with residential construction and renovations completely changing this neighborhood.

A total of 68 homes were sold in August 2018, almost the same from last month, and touch higher than the average for the prior 5 years, which was 64. Hopefully the end so we don't see a downward trend.

Currently there are 100 homes are on the market for the month of September, a small drop from the previous month, but higher than the 5 year average of 81. With this ratio, we are at 1.6 Months of Supply, which is a bit higher than the 5 year average of 1.4 months; this continues to remain low and indicates strong demand in this neighborhood. That continues to indicate the desirability of this neighborhood and expected upward pressure on pricing.

Activity in August shows us a $644,950 Sold price, almost identical to last month and bumping back up to the higher prices we saw earlier in 2018. We compare this to the prior five year average of $612,390 and we are a touch higher than average. Can the market keep moving up? It bears watching.

The average home was sold in 11 days. The 5 year average is 14 days. A little less than average.

The ratio of sold price to original list price is stable at 100%, right at the 100% average for the prior 5 years. Sellers are seeing an advantage to their buyers, but this remains a wonderful neigborhood to call home.

Disclaimer: ActiveRain, Inc. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site.
These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them
make an informed decision when buying or selling a house. ActiveRain, Inc. takes no responsibility for the content in these profiles,
that are written by the members of this community.